FAR Ltd shrugs off oil sector woes with ambitious Senegal venture, page-3

ksingh

Great find .. not on FAR's website .. yet. I have commented before like this article does that given the size of the SNE field at more than 100 square km its not a stretch to imagine it is way bigger than thus far stated. At Chinguetti which had a similar gross and net oil column but an areal coverage of just 12 square km the field was around 100 mbbls (123m when initially appraised but later reduced to 53m when flow rates declined). SNE is 9-10 times this size. CNE has described SNE as having ideal pressures and high quality oil and reservoir rocks. So long as appraisals confirm this at SNE2 and SNE3 (and Bel1?) we just need a convincing flow test to be looking at the P10 or larger ... so around that magical 700mbbls that Cath mentioned COP wanted (and which she indicated would be achieved).

This article is another example of the JV's confidence ... emphasised by the comment that they are forging ahead with a significant appraisal program despite the low oil price environment. I like the comparisons to Hardman and Karoon.

I'm excited (again) !

H